Is the Co-operative Bank right for me?
Important: This guide provides general information, not personalised financial advice. Financial products, rates and eligibility rules can change, so check the provider’s current terms before applying. You can check a firm’s details on the FCA Register.
Quick answer
The Co-operative Bank could suit you if an ethical policy matters to you, you want a no-fee account with 0% currency conversion abroad, and you’d use the 7.00% Regular Saver. Bear in mind the planned move to Coventry Building Society.
the Co-operative Bank at a glance
| Question | What we found |
|---|---|
| Monthly fee? | £0 |
| Regular saver? | 7.00% variable, up to £250 a month |
| Fees abroad? | 0% currency conversion |
| Planned change? | Transfer to Coventry Building Society on 1 January 2027 (subject to court approval) |
| Business account? | Yes, from £0 a month |
Figures as of 4 October 2026, taken from the provider’s own website. Rates and fees can change. This is general information, not a recommendation.
Who it’s for
- Ethics matter in where you bank
- You can save up to £250 a month
- You travel and want no conversion fee
Who should skip it
These are general points to weigh up, not advice. You may want to look elsewhere if:
- You hold a lot with Coventry Building Society
- You want a guaranteed switch bonus
Full explanation
If you save with Coventry Building Society too, add up your balances: after the planned transfer they’d share one FSCS limit.
The catch
The switching offer we saw was a prize draw.
Read the full Co-operative Bank page or check its site.
These go straight to each provider’s own website. They aren’t referral links and we don’t earn from them.
FAQs
Is the Co-operative Bank still a bank?
Yes. A transfer to Coventry Building Society is proposed for 1 January 2027, subject to court approval.
Is the 7% Regular Saver fixed?
No, the rate is variable.
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